Wedmont Private Capital Buys 433 Shares of D.R. Horton, Inc. (NYSE:DHI)

Wedmont Private Capital raised its stake in D.R. Horton, Inc. (NYSE:DHI) by 6.0% in the third quarter, Holdings Channel reports. The fund owned 7,611 shares of the construction company’s stock after purchasing an additional 433 shares during the quarter. Wedmont Private Capital’s holdings in D.R. Horton were worth $1,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DHI. Bfsg LLC lifted its holdings in shares of D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after acquiring an additional 74 shares during the last quarter. Rise Advisors LLC bought a new position in shares of D.R. Horton in the first quarter worth about $27,000. RiverPark Advisors LLC bought a new position in shares of D.R. Horton in the first quarter worth about $29,000. Riverview Trust Co acquired a new position in shares of D.R. Horton in the first quarter valued at approximately $30,000. Finally, Signature Resources Capital Management LLC acquired a new position in shares of D.R. Horton in the second quarter valued at approximately $31,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Performance

Shares of DHI stock opened at $183.40 on Friday. The company has a market cap of $60.40 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 0.89 and a beta of 1.72. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $199.85. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $185.17 and a 200-day moving average of $162.49.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.75 by $0.35. The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.90 EPS. On average, equities analysts forecast that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton declared that its Board of Directors has initiated a share repurchase program on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio is currently 8.17%.

Analyst Ratings Changes

Several research firms have recently issued reports on DHI. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Bank of America upped their price objective on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company upped their price objective on D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Barclays upped their price objective on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, JMP Securities upped their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $183.33.

D.R. Horton Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.